General Motors and Tengzhong Sign Definitive Agreement For Sale of HUMMER
Oct 10, 2009
DETROIT and SICHUAN, Oct. 9, 2009 - General Motors (GM) and Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd (Tengzhong), today announced that the companies have entered into a definitive agreement that will allow Tengzhong to acquire GM's premium all-terrain HUMMER brand. Under the terms of the definitive agreeme ... Continue reading
Tengzhong May Finalize Hummer Deal Today
Oct 9, 2009
SHANGHAI, Oct 9, 2009; Fang Yan and Edmund Klamann writing for Reuters reported that China's Tengzhong may finalise a deal with General Motors Co [GM.UL] on Friday to acquire the U.S. automaker's Hummer business for about $150 million, a source familiar with the deal said. "GM and Tengzhong may close the deal as early ... Continue reading
Tengzhong's Hummer bid is trade, not investment
Sep 10, 2009
Tengzhong's Hummer bid is trade, not investment http://autonews.gasgoo.com/auto-news/1012102/Tengzhong-s-Hummer-bid-is- trade -not-investment.html Shanghai, September 10 (Gasgoo.com) Chinese machinery maker Tengzhong's bid to acquire the Hummer brand from General Motors should be viewed as a trade in technology and not ... Continue reading
Sep 1, 2009
GM August Sales Total 246,479; Highest Total and Retail Sales in 2009; "Cash for Clunkers" Vehicles Up 42 Percent Retail Compared with Last Year August month-over-month retail sales increase led by core brands: Chevrolet, GMC, Buick and Cadillac, which were up 21 percent collectively Chevrolet, led by the Camaro - the ... Continue reading
Electric Hummer H3E by Raser Drives over 50 Miles on Batteries in Test Drive
Aug 26, 2009
PROVO, Utah--Raser Technologies, Inc. , an energy technology company, announced results from a recent test drive demonstrating over 50 miles of all-electric range by its electric Hummer H3E during a preliminary road test. âI am very proud of our team and their work to reach this important milestone,â said Jim ... Continue reading
Guns and Hummers: Ain't That American
Aug 24, 2009
CHESTERFIELD, Mo., Aug. 24 -- Lynch Hummer, 7 times the world's #1 volume Hummer dealer, has announced the opening of the world's first combined Hummer and firearms dealership. Jim Lynch has turned his $7.5 million Hummer facility in this upscale St. Louis suburb into every shooting enthusiast's must-visit attraction. ... Continue reading
"Cash For Clunkers" Rewarding Consumers With Up To $4.5k For Turning In Old Vehicles - VIDEO STORY
Aug 6, 2009
DETROIT - August 6, 2009: After more than a year of declining car sales and closing dealerships, the auto industry may be getting a second wind. With the success of "Cash for Clunkers", cars sales are on the rise. Officially known as the Car Allowance Rebate System, the program rewards people for turning in older gas g ... Continue reading
GM July Sales Total 189,443; Highest Retail Sales in Ten Months, Chevy Retail Up 1 Percent
Aug 3, 2009
July month-over-month retail sales increase led by core brands: Chevrolet, GMC, Buick and Cadillac which were up 12 percent collectively compared with JuneChevrolet led by the Camaro and the all-new Equinox had a year-over-year retail sales improvementAll-new model pushes Chevrolet Equinox sales up 78 percent compared ... Continue reading
While Truth About CASH FOR CLUNKERS Funds Remains Unclear More Money is Approved
Jul 31, 2009
AUTO CENTRAL - July 31, 2009: Late yesterday the Associated Press published a report stating that the CARS "Cash for Clunkers" program was being suspended because funds had run out (just days after the program commenced). AP cited an annonymous source. This source has still not been revealed. The story was published ev ... Continue reading
New GM Emerges From Bankruptcy; TheAutoChannel.com Comments - VIDEO ENHANCED
Jul 10, 2009
Moving Forward with Same Old Products and Old Values By Marc J. Rauch Exec. Vice President/Co-Publisher The Auto Channel General Motorsâ President and CEO Fritz Henderson hosted a news conference this morning to announce that General Motors has emerged from Chapter 11 bankruptcy. The press conference with a Q&A se ... Continue reading
The New General Motors Company Launches Today - COMPLETE PRESS CONFERENCE VIDEO
Jul 10, 2009
New GM to Focus on Customers, Cars and Culture GM gets back to the business of building great cars and trucks, serving customer needs New company created from GM's strongest assets Four core brands backed by the nation's largest and strongest dealer network Streamlined organization on a global basis for faster decision ... Continue reading
"New GM" Out of Bankruptcy Sans "Bad" Assets
Jul 10, 2009
DETROIT July 10, 2009; Kevin Krolicki and David Bailey writing for Reuters reported that a new General Motors emerged from bankruptcy protection on Friday -- far more quickly than most industry-watchers had expected -- as a leaner automaker pledging to win back American consumers and pay back taxpayers. A whirlwind 40- ... Continue reading
NADA Statement on GM's Emergence From Bankruptcy
Jul 10, 2009
MCLEAN, Va., July 10 /PRNewswire-USNewswire/ -- The following is a statement from John McEleney, chairman of the National Automobile Dealers Association, on General Motor's emergence from bankruptcy: "This has been a difficult and wrenching process for everyone involved. Obviously, for GM to get out of bankruptcy so qu ... Continue reading
Jul 10, 2009
Washington DC July 10, 2009; The AIADA newsletter reported that General Motors Co. completed the paperwork, and its good assets exited bankruptcy at 6:30 a.m. this morning. According to the Detroit News, the new company also announced a shake-up of its management team, eliminating its North American president position ... Continue reading
Report: Says China Likely to Reject Hummer Acquisition
Jun 26, 2009
BEIJING June 26, 2009; Joe McDonald writing for the AP reported that China's planning agency is likely to reject a Chinese company's bid to acquire General Motors Corp.'s Hummer unit, in part because its gas-guzzling vehicles conflict with Beijing's conservation goals, state radio reported. The National Development and ... Continue reading
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